Swiss National Bank Acquires 3,700 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Swiss National Bank boosted its holdings in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 148,685 shares of the financial services provider’s stock after buying an additional 3,700 shares during the quarter. Swiss National Bank’s holdings in Lakeland Bancorp were worth $2,618,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LBAI. BlackRock Inc. boosted its position in shares of Lakeland Bancorp by 14.4% in the third quarter. BlackRock Inc. now owns 6,155,805 shares of the financial services provider’s stock worth $98,555,000 after purchasing an additional 773,060 shares during the period. Vanguard Group Inc. boosted its position in shares of Lakeland Bancorp by 26.4% in the first quarter. Vanguard Group Inc. now owns 3,600,914 shares of the financial services provider’s stock worth $60,135,000 after purchasing an additional 751,881 shares during the period. Versor Investments LP boosted its position in shares of Lakeland Bancorp by 45.6% in the fourth quarter. Versor Investments LP now owns 1,521,735 shares of the financial services provider’s stock worth $26,798,000 after purchasing an additional 476,248 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Lakeland Bancorp in the third quarter worth approximately $7,250,000. Finally, State Street Corp boosted its position in shares of Lakeland Bancorp by 30.0% in the first quarter. State Street Corp now owns 1,742,685 shares of the financial services provider’s stock worth $29,103,000 after purchasing an additional 402,583 shares during the period. 57.71% of the stock is currently owned by institutional investors.

Insider Activity at Lakeland Bancorp

In other Lakeland Bancorp news, Director James E. Hanson II purchased 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were bought at an average price of $19.07 per share, with a total value of $26,698.00. Following the completion of the purchase, the director now directly owns 31,199 shares in the company, valued at $594,964.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lakeland Bancorp news, Director James E. Hanson II purchased 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were bought at an average price of $19.07 per share, with a total value of $26,698.00. Following the completion of the purchase, the director now directly owns 31,199 shares in the company, valued at $594,964.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Gragnolati bought 4,355 shares of Lakeland Bancorp stock in a transaction dated Wednesday, March 15th. The stock was purchased at an average cost of $17.15 per share, for a total transaction of $74,688.25. Following the purchase, the director now owns 28,203 shares of the company’s stock, valued at approximately $483,681.45. The disclosure for this purchase can be found here. 4.72% of the stock is owned by insiders.

Analyst Ratings Changes

LBAI has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Lakeland Bancorp in a research report on Sunday. They issued a “hold” rating for the company. Keefe, Bruyette & Woods lowered their target price on shares of Lakeland Bancorp from $22.50 to $20.80 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Lakeland Bancorp has a consensus rating of “Hold” and a consensus price target of $18.60.

Lakeland Bancorp Price Performance

LBAI stock opened at $13.57 on Wednesday. The company has a market capitalization of $882.32 million, a PE ratio of 8.03 and a beta of 0.81. The company’s fifty day moving average price is $14.49 and its 200-day moving average price is $17.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. Lakeland Bancorp, Inc. has a one year low of $11.89 and a one year high of $20.02.

Lakeland Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Monday, May 8th were paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, May 5th. Lakeland Bancorp’s payout ratio is 34.32%.

About Lakeland Bancorp

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Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of lending, depository, and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services.